BKPM Reveals European Investment Brings Cutting-Edge Technology to Indonesia

Head of the Investment Coordinating Board (BKPM), Thomas Lembong, has stressed that Indonesia remains an attractive investment destination for European companies. He noted that the European Union is currently the fourth-largest investor in Indonesia. “We welcome European company investments in Indonesia, which also support the national industry. European investors usually bring cutting-edge technology that can also be applied by local industries, this is in line with the government’s focus on making Indonesia’s industry 4.0,” he said at the Indonesia Economic and Investment Outlook 2019 event in Jakarta on Wednesday. On the same occasion, EuroCham Vice Chair Corine Danielle Tap stated that the Indonesian government has correctly recognised the need for increased private sector investment for technological development. She said this would enhance the competitiveness and efficiency of the national industry, as well as provide economic benefits for Indonesia and society as a whole. “We fully support the Indonesian government’s efforts to encourage innovation in the technology sector for sustainable economic growth. This can certainly be achieved if business players work together with the government as policymakers to encourage innovative policies to develop a sustainable economy,” she explained. Meanwhile, EU Ambassador to Indonesia Vincent Guérend specifically highlighted that the EU-Indonesia Comprehensive Economic Partnership Agreement (EU-CEPA), currently under negotiation with the Indonesian government, promises various opportunities for Indonesia and the EU to further boost economic development in the country. “The EU-CEPA agreement will provide a stronger framework for bilateral trade and investment relations, as well as create new market access for the EU and Indonesia. This agreement will bring capital investment and the transfer of advanced technology and knowledge that are important for developing human resource skills in Indonesia,” he said.